Merrex RC Drill Program Expanded at Siribaya
HALIFAX, NOVA SCOTIA -- (Marketwire) -- 05/26/11 -- Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ('Merrex') (TSX VENTURE: MXI) is pleased to announce the expansion of the RC drill program at the Siribaya Gold Project in West Mali.
RC Drill Program Expanded to 30,000 metres
The 2011 RC drill program has been expanded by 13,000 metres, from 17,000 metres budgeted to 30,000 metres budgeted. As of May 20, 12,964 metres of RC have been drilled.
The additional 13,000 metres of RC drilling will allow for continued exploration southward on the Siribaya trend and for two exploratory lines across the Bambadinka trend.
Neither the 10,000 metre diamond nor the expanded 30,000 metre RC drilling programs will be completed by the onset of the seasonal rains; both programs will be interrupted approximately late July to resume late September or early October. Arrangements have been made with both West African Drilling Services and Boart Longyear for their respective drill rigs to remain on location during the hiatus so that drilling can resume as soon as ground conditions allow after the cessation of the seasonal rains.
About the Siribaya Gold Project
The 848 km2 Siribaya Gold Project in West Mali is Merrex's flagship property. The Siribaya Gold Project is being explored in conjunction with Merrex's 50% earn-in partner and project operator IAMGOLD Corporation. The 2011 exploration program within the Siribaya mega-structure includes 30,000 metres of RC drilling to further extend the explored strike length of the Siribaya trends from three to approximately seven kilometres, and 10,000 metres of diamond drilling to increase the present NI 43-101 resource.
Outside of the Siribaya structures new mineralized trends have been discovered: Siribaya West which lies to the west of the Bambadinka trend, and the Babara-Kofia trends which lie to the east of Siribaya on the Babara and Kofia permits. These trends will be further tested during the 2011 field season.
Gregory P. Isenor, P. Geo., is the Qualified Person as defined under NI 43-101 who has reviewed and is responsible for the technical information presented in this news release.
Merrex is a Mali focused gold exploration company with experienced management, a solid exploration team, a prominent gold-producer as a partner and an expanding gold resource ... a winning combination offering investors an extraordinary opportunity.
Please visit our website at www.merrexgold.com for the most recent corporate presentation.
On Behalf of the Board
Gregory Isenor, P.Geo., President & CEO
This press release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Merrex Gold Inc.
Gregory Isenor, P.Geo.
President & CEO
(902) 832-5555
(902) 832-2223 (FAX)
info@merrexgold.com
www.merrexgold.com
